The 53 Week Payment Year
Posted on: 28 May 24
This year has 53 weeks of rent – What does this mean for you?
In this financial year (1 April 2024 to 31 March 2025) there are 53 Mondays, which means you will be charged 53 times throughout the year rather than 52.
Direct Debit: If you pay by direct debit, we will automatically adjust the payments.
Standing Order: If you pay by standing order, please inform your bank of the changes and re-calculate your rent accordingly. Calculate this by multiplying your weekly rent by 53, then dividing this by 12 to find your monthly rent payment.
E.g.: Weekly rent is £150. Multiply this by 53 (£150 x 53 = £7,950). Then take the total (£7,950) and divide this by 12 for your monthly rent (£7,950 % 12 = £662.5). This will be the amount due each calendar month.
Universal Credit: The DWP will not be paying any extra Universal Credit to cover this. Therefore, please we aware of the changes to your rent as you will need to pay a little more each week to keep your payments up to date and not fall into arrears.
Please ensure your payment frequency is adjusted, whether you are paying monthly, weekly or fortnightly.
If you are unsure what to do or want more information, please get in touch with our Income Team on 0121 633 4633 or email incomemanagement@tridentgroup.org.uk.
Check out our FAQ’s on the 53 week payment year by clicking here.
